Blockchain startup Dfinity attracts $102m round

The round included returning investors Polychain, an investment firm focused on blockchain assets, and a16z, the cryptocurrency-focused fund of Andreessen Horowitz. New investors included SV Angel, Aspect Ventures, Village Global, Multicoin Capital, Scalar Capital and Amino Capital. The round also attracted contributions from Dfinity community members.

Dfinity already raised $61m from Andreessen Horowitz and Polychain earlier this year.

Dfinity will continue to focus on scaling up in the coming months, with the launch of its initial network planned for the end of the year. It recently conducted an "airdrop" of tokens worth CHF 35m to its members to help them become early users of its systems.

Company
Founded in 2015, Dfinity is aiming to build a new kind of public decentralised cloud computing resource, which it refers to as the Internet Computer. This relies on a new blockchain-based computer similar in concept to Ethereum with a focus on improved performance and, ultimately, unlimited capacity. This infrastructure would be able to run a new generation of software and services in an always-available, unhackable and cheaper manner compared to existing technologies.

It is based in Zug with a further office in Palo Alto.

People
a16z Crypto – Chris Dixon (partner).

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